Bulgarian Economy Minister Traikov has expressed deep concern about the future of the Nabucco gas transit pipeline project before the Vienna Economic Forum.

"Bulgaria is deeply worried by the delays in the execution of the European project Nabucco," Traikov told the 7th edition of the Vienna Economic Forum in the Austrian capital Monday, as cited by the Bulgarian National Radio.

He emphasized that Bulgaria is extremely interested in the realization of Nabucco since at present it is 100% dependent on a single source of natural gas – which is Russia even though he did not mention Russia explicitly in that sentence.

However, while expressing worried about Nabucco, Traikov spoke favorably with respect to South Stream, the Russian-sponsored project, which is regarded as competitor of Nabucco.

Traikov said Bulgaria supported South Stream because it provided for diversification of the routes for delivery of Russian natural gas to Europe.

His statement comes ahead of the visit of Russian Prime Minister Vladimir Putin in Sofia on November 13, 2010, when Bulgaria and Russia are expected to achieve further progress in their talks for the construction of the section of South Stream, which goes through Bulgarian territory.

The Austrian capital Vienna is the headquarters of the Nabucco Gas Pipeline International GmbH, which is the company of the shareholders in the Nabucco project.

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